EA Announces Record Second Quarter Revenues and Earnings; Madden NFL 2003 / EA SPORTS / Medal of Honor Drive Results; Expects Strong Holiday Sales.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Oct. 24, 2002 Electronic Arts (Nasdaq:ERTS ERTS Electronic Arts, Inc. (stock symbol) ERTS Earth Resources Technology Satellite (US NASA) ERTS Embedded Real Time Systems ERTS Enhanced Remote Transit Shed ) today announced record financial results for the fiscal quarter ended September September: see month. 30, 2002. Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: net revenues for the quarter were $453 million, up 89 percent compared with $240 million for EA's fiscal quarter ending September 30, 2001. Growth was driven by strong sales of Madden NFL Madden NFL is an American football video game series developed by Electronic Arts Tiburon for EA Sports. The game is named after Pro Football Hall of Famer John Madden, a well-known color commentator for NBC Sports and formerly a successful Super Bowl-winning coach during (TM) 2003, NCAA NCAA abbr. National Collegiate Athletic Association (R) Football 2003, Medal of Honor Medal of Honor highest American military decoration for wartime gallantry. [Am. Hist.: Misc.] See : Bravery Frontline front·line also front line n. 1. A front or boundary, especially one between military, political, or ideological positions. 2. Basketball See frontcourt. 3. Football The linemen of a team. (TM) and The Sims(TM) products. Consolidated net income for the quarter was $50 million, an $83 million increase year over year. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the quarter was $0.34, a $0.58 per share increase year over year. "We continue to create great games which set new standards for interactive entertainment," said Larry Probst Larry Probst (Lawrence F. Probst III) was previously the CEO of the world's largest video game publisher, Electronic Arts (EA). He was succeeded by John Riccitiello on April 2, 2007. , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Electronic Arts. "Madden NFL 2003 and NCAA Football 2003 were the #1 and #2 selling sports games A sports game is a computer or video game that simulates the playing of traditional sports. They are extremely popular, the genre including some of the best-selling games. in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and our World War II product, Medal of Honor, is a worldwide bestseller. Looking ahead -- the upcoming holiday quarter will be the biggest in EA's history. We expect to release over 35 new titles in 75 countries in 20 languages -- including Harry Potter A potter is someone who makes pottery. Potter may also refer to: People
“feigned history” of the Hobbits; epic trilogy written by J. R. R. Tolkein. [Br. Lit.: Benét, 1013] See : Fantasy Two Towers; James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. Bond 007: NightFire; Need for Speed Hot Pursuit 2; FIFA FIFA International Association Football Federation [French Fédération Internationale de Football Association] FIFA n abbr (= Fédération Internationale de Football Association) → FIFA f Soccer 2003; NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= Live 2003; and The Sims Online." "EA is hitting on all cylinders," said Warren Warren. 1 City (1990 pop. 144,864), Macomb co., SE Mich., a suburb of Detroit; est. 1837, inc. as a city 1957. It is an important metalworking center where steel is processed. Jenson Jenson is a surname, and may refer to:
Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. exceeded $450 million." Highlights for the Quarter (comparisons are to the quarter ending September 30, 2001) -- Net revenues increased in all territories, up 85 percent in North America, 119 percent in Europe, 72 percent in Asia Pacific and one percent in Japan. -- Operating margins reached 15.7% versus a loss in the prior period. -- Electronic Arts had four of the top six selling titles in the U.S. on the leading PlayStation(R)2 computer entertainment system -- Madden NFL 2003, NCAA Football 2003, Kingdom Hearts and Medal of Honor Frontline -- according to NPDFunworld TRSTS Video Game Service. -- Electronic Arts had five of the top ten selling PC Game titles in the U.S. -- The Sims, The Sims(TM) Unleashed Expansion Pack, The Sims(TM) Vacation Expansion Pack, Medal of Honor Allied Assault(TM) and Battlefield 1942(TM) -- according to NPDTechworld. -- The Sims franchise life-to-date worldwide sales exceeded 18 million units. -- EA Core net revenues increased 93 percent to $435 million while operating income reached $95 million -- up $109 million -- at a margin of 22 percent. -- EA.com net revenues increased 23 percent to $19 million while operating loss declined by 37 percent to $23 million. -- EA Online was the leading games site with 12.3 million Unique Visitors in August according to Media Metrix. Business Outlook The following forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflect EA's expectations as of October October: see month. 24, 2002. Results may be materially different, affected by many factors, such as changes in the overall global economy, actual consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. , product development delays, subscriber subscriber, n the person, usually the employee, who represents the family unit in relation to the prepayment plan. Other family members are dependents. Also called certificate holders or enrollees. acceptance of our online products and other risk factors detailed in this release. Fiscal Third Quarter - Ending December December: see month. 31, 2002 -- Consolidated net revenues are expected to be between $1.075 and $1.175 billion. -- Consolidated diluted earnings per share are expected to be between $1.52 and $1.60. Fiscal Year - Ending March 31, 2003 -- Consolidated net revenues are expected to be between $2.3 and $2.4 billion. -- Consolidated diluted earnings per share are expected to be between $2.24 and $2.32. Supplemental Pro Forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma Disclosure Pro forma results are included in this report as a supplement to EA's GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). (Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting ) results. The Company believes pro forma results are useful in illustrating and explaining operating results and comparisons to prior periods. Pro forma results exclude the following items from the Company's statement of operations See Income statement. -- Amortization of intangibles Property that is a "right" such as a patent, Copyright, or trademark, or one that is lacking physical existence, such as good will. -- Restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and asset impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. charges -- Charges for acquired in-process technology In addition, pro forma results for EA Core and EA.com reflect these segments on a stand-alone (jargon) stand-alone - Capable of operating without other programs, libraries, computers, hardware, networks, etc. Exactly what is absent is presumed to be obvious from context. "We only run Windows on stand-alone PCs because it's too dangerous to run it on networked ones." basis and allocate To reserve a resource such as memory or disk. See memory allocation. income taxes on a proportional proportional values expressed as a proportion of the total number of values in a series. proportional dwarf the patient is a miniature without disproportionate reductions or enlargements of body parts. basis to the respective income (loss) for each segment. A reconciliation of GAAP to pro forma is included as part of the supplemental disclosures. Webcast Electronic Arts will host a webcast at 2:00 pm PT (5:00 pm ET) on October 24, 2002 at www.info.ea.com to review the results for the second fiscal quarter and discuss the Company's outlook for the future. A replay will be available until October 31, 2002. Some statements set forth in this release including those under the heading "Business Outlook" contain forward-looking statements that involve risks and uncertainties. Statements including words such as "anticipate", "believe" or "expect" and statements in the future tense future tense n. A verb tense expressing future time. Noun 1. future tense - a verb tense that expresses actions or states in the future future are forward-looking statements. These forward-looking statements are subject to business and economic risks and actual events or actual future results could differ materially from those set forth in the forward-looking statements due to such risks and uncertainties. Some of the factors which could cause our results to differ materially include the following: timely development and release of our products; consumer spending trends; retention of key personnel; risks associated with major platform transitions; the limited operating history and experience of EA.com; subscriber acceptance of our online products; potential regulation of our products in key territories; developments in the law regarding protection of our products; and other factors described in our Annual Report on Form 10K for the year ended March 31, 2002 and Form 10Q for the quarter ended June June: see month. 30, 2002. If any of these risks or uncertainties materializes, our results could differ materially from our expectations described in these forward-looking statements. We do not intend to update these forward-looking statements, including those made under the "Business Outlook" heading. Note to Editors: Electronic Arts, EA SPORTS, John Madden mad·den v. mad·dened, mad·den·ing, mad·dens v.tr. 1. To make angry; irritate. 2. To drive insane. v.intr. To become infuriated. Football, The Sims, The Sims Online, Medal of Honor Frontline, Medal of Honor Allied Assault and Need for Speed are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. other countries. Medal of Honor is a trademark or registered trademark of Electronic Arts Inc. in the U.S. and/or countries for computer and videogame software. EA.com is a service mark of EA.com Inc. The Lord of The Rings and the characters, names, and places therein, TM The Saul Saul, first king of the ancient Hebrews. He was a Benjamite and anointed king by Samuel. Saul's territory was probably limited to the hill country of Judah and the region to the north, and his proximity to the Philistines brought him into constant conflict with them. Zaentz Company d/b/a Tolkien Enterprises Tolkien Enterprises (TE), a trading name for the Saul Zaentz Company, owns the worldwide exclusive rights to certain elements of J. R. R. Tolkien's two most famous literary works; The Lord of the Rings and The Hobbit. under license to New Line Productions, Inc. James Bond and 007 are trademarks of Danjaq Danjaq, LLC (formerly Danjaq S.A.) is the holding company responsible for the copyright and trademarks to the characters, elements, and other material related to James Bond on screen. It is currently owned and managed by the family of Albert R. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . NIGHTFIRE is a trademark of Danjaq, LLC and United Artist Corporation. Battlefield 1942 is a trademark of Digital Illusions CE For other uses of "DICE", see . Digital Illusions Creative Entertainment AB (DICE) is a Swedish video game developer, wholly owned by Electronic Arts, best known for the Battlefield video game series. History DICE was started by Fredrik Liljegren (a.k.a. AB. HARRY POTTER, names and related indicia Signs; indications. Circumstances that point to the existence of a given fact as probable, but not certain. For example, indicia of partnership are any circumstances which would induce the belief that a given person was in reality, though not technically, a member of a given are trademarks of and (c) Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga , NBA, NCAA and FIFA are trademarks of their respective owners and used with permission. PlayStation A video game console from Sony that was introduced in the U.S. in 1995. CD-ROM based and using a 32-bit MIPS CPU, the original PlayStation was the first of a family of desktop and handheld units. is a registered trademark of Sony SONY Standard Oil of New York (common, but untrue; it's an urban legend) Computer Entertainment Inc. All other trademarks are the property of their respective owners.
ELECTRONIC ARTS
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share data)
Three Months Ended Six Months Ended
September 30, September 30,
------------------- -------------------
2002 2001 2002 2001
--------- --------- --------- ---------
Net revenues $453,490 $240,156 $785,388 $422,106
Cost of goods sold 198,891 117,760 340,256 206,789
--------- --------- --------- ---------
Gross profit 254,599 122,396 445,132 215,317
Operating expenses:
Marketing and sales 55,514 45,020 120,888 85,824
General and administrative 27,453 25,403 53,116 48,618
Research and development 98,140 97,555 189,109 188,360
Amortization of intangibles 2,246 6,475 4,491 12,950
--------- --------- --------- ---------
Total operating expenses 183,353 174,453 367,604 335,752
--------- --------- --------- ---------
Operating income (loss) 71,246 (52,057) 77,528 (120,435)
Interest and other income
(expense), net 1,177 4,060 4,324 6,777
--------- --------- --------- ---------
Income (loss) before provision
for (benefit from) income
taxes and minority interest 72,423 (47,997) 81,852 (113,658)
Provision for (benefit from)
income taxes 22,451 (14,879) 25,374 (35,234)
--------- --------- --------- ---------
Income (loss) before minority
interest 49,972 (33,118) 56,478 (78,424)
Minority interest in
consolidated joint venture 262 294 1,160 346
--------- --------- --------- ---------
Net income (loss) $50,234 $(32,824) $57,638 $(78,078)
========= ========= ========= =========
Earnings (loss) per share --
Class A Stockholders
Diluted $0.34 $(0.24) $0.39 $(0.57)
Basic $0.38 $(0.20) $0.46 $(0.49)
Number of shares used in
diluted earnings (loss) per
share computation 146,619 137,304 146,269 136,810
Number of shares used in basic
earnings (loss) per share
computation 139,843 136,652 139,317 136,158
Loss per share -- Class B
Stockholders
Diluted $(0.57) $(0.93) $(1.07) $(1.90)
Basic $(0.57) $(0.93) $(1.07) $(1.90)
Number of shares used in
diluted loss per share
computation 5,547 6,022 5,759 6,020
Number of shares used in basic
loss per share computation 5,547 6,022 5,759 6,020
ELECTRONIC ARTS
Unaudited Condensed Consolidated Balance Sheets
(in thousands)
September 30, March 31,
2002 2002
------------- -----------
ASSETS
Cash, cash equivalents and short-term
investments $920,768 $796,936
Marketable securities 6,525 6,869
Receivables, less allowances of $125,402 and
$115,870, respectively 139,366 190,495
Inventories, net 36,827 23,780
Deferred income taxes 36,412 38,597
Other current assets 159,287 95,866
------------- -----------
Total current assets 1,299,185 1,152,543
Property and equipment, net 307,056 308,827
Investment in affiliates 17,324 19,077
Goodwill and other intangibles, net 121,484 110,512
Long-term deferred income taxes 55,649 64,065
Other assets 46,387 44,350
------------- -----------
Total Assets $1,847,085 $1,699,374
============= ===========
LIABILITIES, MINORITY INTEREST AND
STOCKHOLDERS' EQUITY
Accounts payable $120,320 $88,563
Accrued and other liabilities 333,558 364,419
------------- -----------
Total current liabilities 453,878 452,982
Minority interest in consolidated joint
venture 1,420 3,098
Stockholders' equity:
Common stock 1,450 1,446
Paid-in capital 729,774 649,777
Retained earnings 664,433 606,795
Accumulated other comprehensive loss (3,870) (14,724)
------------- -----------
Total stockholders' equity 1,391,787 1,243,294
------------- -----------
Total Liabilities, Minority Interest and
Stockholders' Equity $1,847,085 $1,699,374
============= ===========
ELECTRONIC ARTS
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
Three Months Ended Six Months Ended
September 30, September 30,
------------------- -------------------
2002 2001 2002 2001
--------- --------- --------- ---------
OPERATING ACTIVITIES
Net income (loss) $50,234 $(32,824) $57,638 $(78,078)
Adjustments to reconcile net
income (loss) to net cash
provided by (used in)
operating activities:
Minority interest in
consolidated joint venture (262) (294) (1,160) (346)
Distribution from
investment in affiliate 3,000 -- 3,000 --
Equity in net (income) loss
of affiliates (1,074) (130) (1,313) 160
Gain on sale of affiliate -- -- -- (200)
Depreciation and
amortization 25,067 27,939 49,373 55,294
Loss on write-down of
affiliate -- -- 471 --
Loss on sale of fixed
assets 20 94 115 315
Write-down of marketable
securities 2,359 -- 2,359 --
Bad debt expense 2,980 1,183 4,639 2,327
Stock-based compensation 1,007 456 2,161 1,154
Tax benefit from exercise
of stock options 11,666 2,348 16,866 16,789
Change in assets and
liabilities:
Receivables (22,228) (27,730) 48,261 68,584
Inventories (12,753) (4,799) (13,047) (5,133)
Other assets (51,301) (40,839) (85,409) (70,114)
Accounts payable 33,963 20,521 31,726 6,628
Accrued and other
liabilities 30,869 4,280 (35,800) (76,723)
Deferred income taxes 8,379 (642) 8,689 (581)
--------- --------- --------- ---------
Net cash provided by (used in)
operating activities 81,926 (50,437) 88,569 (79,924)
--------- --------- --------- ---------
INVESTING ACTIVITIES
Proceeds from sale of
property and equipment 32 60 411 225
Proceeds from sale of
affiliate -- -- -- 570
Capital expenditures (14,977) (14,681) (23,386) (29,711)
Investment in affiliates,
net (251) (3) (405) 3,018
Change in short-term
investments, net (53,999) (64,729) (46,212) (81,104)
Acquisition, net of cash
acquired (12,868) -- (12,868) --
--------- --------- --------- ---------
Net cash used in investing
activities (82,063) (79,353) (82,460) (107,002)
--------- --------- --------- ---------
FINANCING ACTIVITIES
Proceeds from sale of Class
A shares through employee
stock plans and other plans 41,388 15,748 61,281 49,010
Proceeds from sale of Class
B shares through employee
stock plans and other plans -- -- 1 --
Purchase of treasury shares -- (6,824) -- (6,824)
Proceeds from minority
interest investment (751) -- (751) --
--------- --------- --------- ---------
Net cash provided by financing
activities 40,637 8,924 60,531 42,186
--------- --------- --------- ---------
Translation adjustment (1,567) 2,448 8,005 3,733
--------- --------- --------- ---------
Increase (decrease) in cash and
cash equivalents 38,933 (118,418) 74,645 (141,007)
Beginning cash and cash
equivalents 588,538 397,223 552,826 419,812
--------- --------- --------- ---------
Ending cash and cash
equivalents 627,471 278,805 627,471 278,805
Short-term investments 293,297 129,140 293,297 129,140
--------- --------- --------- ---------
Ending cash, cash equivalents
and short-term investments $920,768 $407,945 $920,768 $407,945
========= ========= ========= =========
ELECTRONIC ARTS
Unaudited Condensed Consolidating Statements of Operations
(in thousands, except per share data)
Three Months Ended Three Months Ended
September 30, 2002 September 30, 2001
---------------------------- ---------------------------
EA Core EA Core
(excl. Electronic (excl. Electronic
EA.com) EA.com Arts EA.com) EA.com Arts
-------- -------- --------- --------- -------- ---------
Total net
revenues 434,694 18,796 453,490 224,926 15,230 240,156
Total cost of
goods sold 195,740 3,151 198,891 114,788 2,972 117,760
-------- -------- --------- --------- -------- ----------
Gross profit 238,954 15,645 254,599 110,138 12,258 122,396
Operating
expenses:
Marketing
and sales
(Note 1) 46,287 9,227 55,514 34,979 10,041 45,020
General and
admin-
istrative 25,431 2,022 27,453 23,152 2,251 25,403
Research and
develop-
ment (Note
2) 71,764 26,376 98,140 63,725 33,830 97,555
Amortizat-
ion of
intangibles 927 1,319 2,246 3,205 3,270 6,475
-------- -------- --------- --------- -------- ----------
Total
operating
expenses 144,409 38,944 183,353 125,061 49,392 174,453
-------- -------- --------- --------- -------- ----------
Operating
income
(loss) 94,545 (23,299) 71,246 (14,923) (37,134) (52,057)
Interest and
other income
(expense),
net 1,205 (28) 1,177 4,179 (119) 4,060
-------- -------- --------- --------- -------- ----------
Income (loss)
before
provision
for (benefit
from) income
taxes and
minority
interest 95,750 (23,327) 72,423 (10,744) (37,253) (47,997)
Provision for
(benefit
from) income
taxes 22,451 -- 22,451 (14,879) -- (14,879)
-------- -------- --------- --------- -------- ----------
Income (loss)
before
minority
interest 73,299 (23,327) 49,972 4,135 (37,253) (33,118)
Minority
interest in
consolidated
joint
venture 262 -- 262 294 -- 294
-------- -------- --------- --------- -------- ----------
Net income
(loss)
before
retained
interest in
EA.com 73,561 (23,327) 50,234 4,429 (37,253) (32,824)
Net loss
related to
retained
interest in
EA.com (20,154) 20,154 -- (31,665) 31,665 --
-------- -------- --------- --------- -------- ----------
Net income
(loss) $53,407 $(3,173) $50,234 $(27,236) $(5,588) $(32,824)
======== ======== ========= ========= ======== ==========
Earnings (loss) per
share - Class A
Stockholders
Diluted $0.34 $(0.24)
Basic $0.38 $(0.20)
Number of shares used
in diluted earnings
(loss) per share
computation (Note 5) 146,619 137,304
Number of shares used
in basic earnings
(loss) per share
computation 139,843 136,652
Loss per
share -
Class B
Stockholders
Diluted $(0.57) $(0.93)
Basic $(0.57) $(0.93)
Number of
shares used
in diluted
loss per
share
computation 5,547 6,022
Number of
shares used
in basic
loss per
share
computation 5,547 6,022
Pro forma Results (In thousands, except per share data)
The following table shows the Company's pro forma results reconciled
to the Generally Accepted Accounting Principles ("GAAP") Consolidated
Statements of Operations.
The Company's pro forma results do not include amortization of
intangibles. In addition, income taxes are allocated to EA Core and
EA.com at the consolidated effective tax rate (31%) on a pro rata
basis.
Three Months Ended Three Months Ended
September 30, 2002 September 30, 2001
--------------------------- -----------------------------
EA Core EA Core
(excl. Electronic (excl. Electronic
EA.com) EA.com Arts EA.com) EA.com Arts
-------- --------- -------- --------- --------- ---------
Net income
(loss) -
GAAP $53,407 $(3,173) $50,234 $(27,236) $(5,588) $(32,824)
======== ========= ======== ========= ========= =========
Net loss
related to
retained
interest in
EA.com
(Note 3) 20,154 (20,154) -- 31,665 (31,665) --
Pro forma
allocation
of income
taxes (Note
4) (7,231) 7,231 -- (11,548) 11,548 --
-------- --------- -------- --------- --------- ---------
Pro forma
net income
(loss) 66,330 (16,096) 50,234 (7,119) (25,705) (32,824)
Amortizat-
ion of
intangibles 927 1,319 2,246 3,205 3,270 6,475
Income taxes
effect on
the above
item (288) (408) (696) (995) (1,013) (2,008)
-------- --------- -------- --------- --------- ---------
Pro forma
net income
(loss) less
above item $66,969 $(15,185) $51,784 $(4,909) $(23,448) $(28,357)
======== ========= ======== ========= ========= =========
Pro forma
diluted
earnings
(loss) per
share $0.45 $(0.10) $0.35 $(0.04) $(0.17) $(0.21)
Number of
shares used
in diluted
earnings
(loss) per
share
computation
(Note 5) 146,619 146,619 146,619 137,304 137,304 137,304
Notes:
1) EA.com marketing and sales includes $4,466K of Carriage Fee for
the three months ended September 30, 2002 and 2001.
2) EA.com development includes $11,998K of Network Development and
Support and $2,137K of CRMD for the three months ended September
30, 2002; and includes $15,170K of Network Development and Support
and $2,996K of CRMD for the three months ended September 30, 2001.
3) EA Core maintained approximately 85% retained interest in EA.com
through August 2002 and maintains approximately 88% retained
interest in EA.com thereafter and is reflected in the Net income
(loss) -- GAAP for EA Core. The pro forma statements exclude the
retained interest allocation.
4) The provision for (benefit from) income taxes was allocated
between EA Core and EA.com at the worldwide effective tax rate
(31%) based on each segment's pro rata share of income or loss.
The sum of tax provision (benefit) for EA Core and EA.com is the
same as consolidated tax provision.
5) Due to the net loss for the three months ended September 30, 2001,
stock options have been excluded from the Diluted EPS calculation.
Had income been reported for this period, an additional 5,443,000
shares would have been added to diluted common shares for Class A
common stock for the three months ended September 30, 2001.
ELECTRONIC ARTS
Unaudited Condensed Consolidating Statements of Operations
(in thousands, except per share data)
Six Months Ended Six Months Ended
September 30, 2002 September 30, 2001
------------------------- -----------------------------
EA Core EA Core
(excl. Electronic (excl. Electronic
EA.com) EA.com Arts EA.com) EA.com Arts
-------- -------- ------- --------- --------- ---------
Total net
revenues 746,813 38,575 785,388 390,477 31,629 422,106
Total cost of
goods sold 334,235 6,021 340,256 200,207 6,582 206,789
-------- -------- ------- --------- --------- ---------
Gross profit 412,578 32,554 445,132 190,270 25,047 215,317
Operating expenses:
Marketing and
sales
(Note 1) 103,729 17,159 120,888 65,810 20,014 85,824
General and
admin-
istrative 48,946 4,170 53,116 43,419 5,199 48,618
Research and
development
(Note 2) 137,365 51,744 189,109 119,108 69,252 188,360
Amortization
of intangibles 1,853 2,638 4,491 6,410 6,540 12,950
-------- -------- ------- --------- --------- ---------
Total
operating
expenses 291,893 75,711 367,604 234,747 101,005 335,752
-------- -------- ------- --------- --------- --------
Operating income
(loss) 120,685 (43,157) 77,528 (44,477) (75,958) (120,435)
Interest and
other income
(expense), net 4,426 (102) 4,324 7,268 (491) 6,777
-------- -------- ------- --------- --------- ---------
Income (loss)
before
provision for
(benefit from)
income taxes
and minority
interest 125,111 (43,259) 81,852 (37,209) (76,449) (113,658)
Provision for
(benefit from)
income taxes 25,374 -- 25,374 (35,234) -- (35,234)
-------- -------- ------- --------- --------- ---------
Income (loss)
before minority
interest 99,737 (43,259) 56,478 (1,975) (76,449) (78,424)
Minority
interest in
consolidated
joint venture 1,160 -- 1,160 346 -- 346
-------- -------- ------- --------- --------- ---------
Net income
(loss) before
retained
interest in
EA.com 100,897 (43,259) 57,638 (1,629) (76,449) (78,078)
Net loss related
to retained
interest in
EA.com (37,096) 37,096 -- (64,982) 64,982 --
-------- -------- ------- --------- --------- ---------
Net income
(loss) $63,801 $(6,163) $57,638 $(66,611) $(11,467) $(78,078)
======== ======== ======= ========= ========= =========
Earnings (loss) per
share - Class A
Stockholders
Diluted $0.39 $(0.57)
Basic $0.46 $(0.49)
Number of shares used in
diluted earnings (loss)
per share computation
(Note 5) 146,269 136,810
Number of shares used in
basic earnings (loss)
per share computation 139,317 136,158
Loss per share --
Class B Stockholders
Diluted $(1.07) $(1.90)
Basic $(1.07) $(1.90)
Number of shares
used in diluted
loss per share
computation 5,759 6,020
Number of shares
used in basic
loss per share
computation 5,759 6,020
Pro forma Results (In thousands, except per share data)
The following table shows the Company's pro forma results reconciled
to the Generally Accepted Accounting Principles ("GAAP") Consolidated
Statements of Operations.
The Company's pro forma results do not include amortization of
intangibles. In addition, income taxes are allocated to EA Core and
EA.com at the consolidated effective tax rate (31%) on a pro rata
basis.
Six Months Ended Six Months Ended
September 30, 2002 September 30, 2001
--------------------------- -----------------------------
EA Core EA Core
(excl. Electronic (excl. Electronic
EA.com) EA.com Arts EA.com) EA.com Arts
-------- --------- -------- --------- --------- ---------
Net income
(loss) --
GAAP $63,801 $(6,163) $57,638 $(66,611) $(11,467) $(78,078)
======== ========= ======== ========= ========= =========
Net loss
related to
retained
interest in
EA.com
(note 3) 37,096 (37,096) -- 64,982 (64,982) --
Pro forma
allocation
of income
taxes (note
4) (13,410) 13,410 -- (23,699) 23,699 --
-------- --------- -------- --------- --------- ---------
Pro forma net
income
(loss) 87,487 (29,849) 57,638 (25,328) (52,750) (78,078)
Amortization
of
intangibles 1,853 2,638 4,491 6,410 6,540 12,950
Income taxes
effect on
the above
item (575) (817) (1,392) (1,988) (2,027) (4,015)
-------- --------- -------- --------- --------- ---------
Pro forma net
income
(loss) less
above item $88,765 $(28,028) $60,737 $(20,906) $(48,237) $(69,143)
======== ========= ======== ========= ========= =========
Pro forma
diluted
earnings
(loss) per
share $0.61 $(0.19) $0.42 $(0.16) $(0.35) $(0.51)
Number of
shares used
in diluted
earnings
(loss) per
share
computation
(Note 5) 146,269 146,269 146,269 136,810 136,810 136,810
Notes:
1) EA.com marketing and sales includes $8,932K of Carriage Fee for
the six months ended September 30, 2002 and 2001.
2) EA.com development includes $24,111K of Network Development and
Support and $4,344K of CRMD for the six months ended September 30,
2002; and includes $32,045K of Network Development and Support and
$5,910K of CRMD for the six months ended September 30, 2001.
3) EA Core maintained approximately 85% retained interest in EA.com
through August 2002 and maintains approximately 88% retained
interest in EA.com thereafter and is reflected in the Net income
(loss) - GAAP for EA Core. The pro forma statements exclude the
retained interest allocation.
4) The provision for (benefit from) income taxes was allocated
between EA Core and EA.com at the worldwide effective tax rate
(31%) based on each segment's pro rata share of income or loss.
The sum of tax provision (benefit) for EA Core and EA.com is the
same as consolidated tax provision.
5) Due to the net loss for the six months ended September 30, 2001,
stock options have been excluded from the Diluted EPS calculation.
Had income been reported for this period, an additional 5,784,000
shares would have been added to diluted common shares for Class A
common stock for the six months ended September 30, 2001.
ELECTRONIC ARTS
Unaudited Pro Forma Condensed Statements of Operations
(in thousands, except per share data)
Three Months Ended Three Months Ended
September 30, 2002 September 30, 2001
-------------------------- --------------------------
EA Core Electronic EA Core Electronic
(excl EA.com Arts (excl EA.com Arts
EA.com) EA.com)
-------- -------- -------- -------- -------- --------
Net revenues $434,694 $ 18,796 $453,490 $224,926 $ 15,230 $240,156
Cost of goods
sold 195,740 3,151 198,891 114,788 2,972 117,760
-------- -------- -------- -------- -------- --------
Gross profit 238,954 15,645 254,599 110,138 12,258 122,396
Operating
expenses:
Marketing and
sales
(without
carriage fee) 46,287 4,761 51,048 34,979 5,575 40,554
General and
adminis-
trative 25,431 2,022 27,453 23,152 2,251 25,403
Research and
development
(without NDS
and CRMD) 71,764 12,241 84,005 63,725 15,664 79,389
Network
development
and support -- 11,998 11,998 -- 15,170 15,170
CRMD -- 2,137 2,137 -- 2,996 2,996
Carriage fee -- 4,466 4,466 -- 4,466 4,466
Amortization of
intangibles
(Note 1) -- -- -- -- -- --
-------- -------- -------- -------- -------- --------
Total pro
forma
operating
expenses 143,482 37,625 181,107 121,856 46,122 167,978
-------- -------- -------- -------- -------- --------
Pro forma
operating
income (loss) 95,472 (21,980) 73,492 (11,718) (33,864) (45,582)
Interest and
other income
(expense),
net 1,205 (28) 1,177 4,179 (119) 4,060
-------- -------- -------- -------- -------- --------
Pro forma income
(loss) before
provision for
(benefit from)
income taxes
and minority
interest 96,677 (22,008) 74,669 (7,539) (33,983) (41,522)
Provision for
(benefit from)
income taxes
(Note 2) 29,970 (6,823) 23,147 (2,336) (10,535) (12,871)
-------- -------- -------- -------- -------- --------
Pro forma income
(loss) before
minority
interest 66,707 (15,185) 51,522 (5,203) (23,448) (28,651)
Minority
interest in
consolidated
joint venture 262 -- 262 294 -- 294
-------- -------- -------- -------- -------- --------
Pro forma net
income (loss)$ 66,969 $(15,185)$ 51,784 $ (4,909)$(23,448)$(28,357)
======== ======== ======== ======== ======== ========
Pro forma
diluted
earnings
(loss)
per share $ 0.45 $ (0.10)$ 0.35 $ (0.04)$ (0.17)$ (0.21)
Number of shares
used in diluted
earnings (loss)
per share
computation 146,619 146,619 146,619 137,304 137,304 137,304
Notes:
1) Excludes EA Core amortization of intangibles of $927K for Q2'03
and $3,205K for Q2'02; and excludes EA.com amortization of
intangibles of $1,319K for Q2'03 and $3,270K for Q2'02;
2) Consolidated taxes have been allocated to EA Core and EA.com based
on a pro rata basis. The sum of tax provision for EA Core and tax
benefit for EA.com is the same as consolidated tax provision.
Six Months Ended Six Months Ended
September 30, 2002 September 30, 2001
-------------------------- --------------------------
EA Core Electronic EA Core Electronic
(excl EA.com Arts (excl EA.com Arts
EA.com) EA.com)
-------- -------- -------- -------- -------- --------
Net revenues $746,813 $ 38,575 $785,388 $390,477 $ 31,629 $422,106
Cost of goods
sold 334,235 6,021 340,256 200,207 6,582 206,789
-------- -------- -------- -------- -------- --------
Gross profit 412,578 32,554 445,132 190,270 25,047 215,317
Operating
expenses:
Marketing and
sales
(without
carriage fee) 103,729 8,227 111,956 65,810 11,082 76,892
General and
adminis-
trative 48,946 4,170 53,116 43,419 5,199 48,618
Research and
development
(without NDS
and CRMD) 137,365 23,289 160,654 119,108 31,297 150,405
Network
development
and support -- 24,111 24,111 -- 32,045 32,045
CRMD -- 4,344 4,344 -- 5,910 5,910
Carriage fee -- 8,932 8,932 -- 8,932 8,932
Amortization
of
intangibles
(Note 1) -- -- -- -- -- --
-------- -------- -------- -------- -------- --------
Total pro
forma
operating
expenses 290,040 73,073 363,113 228,337 94,465 322,802
-------- -------- -------- -------- -------- --------
Pro forma
operating
income (loss) 122,538 (40,519) 82,019 (38,067) (69,418)(107,485)
Interest and
other income
(expense),
net 4,426 (102) 4,324 7,268 (491) 6,777
-------- -------- -------- -------- -------- --------
Pro forma
income (loss)
before
provision for
(benefit from)
income taxes
and minority
interest 126,964 (40,621) 86,343 (30,799) (69,909)(100,708)
Provision for
(benefit
from) income
taxes(Note 2) 39,359 (12,593) 26,766 (9,547) (21,672) (31,219)
-------- -------- -------- -------- -------- ---------
Pro forma
income (loss)
before
minority
interest 87,605 (28,028) 59,577 (21,252) (48,237) (69,489)
Minority
interest in
consolidated
joint venture 1,160 -- 1,160 346 -- 346
-------- -------- -------- -------- -------- --------
Pro forma net
income (loss)$ 88,765 $(28,028)$ 60,737 $(20,906)$(48,237)$(69,143)
======== ======== ======== ======== ======== ========
Pro forma
diluted
earnings
(loss) per
share $ 0.61 $ (0.19)$ 0.42 $ (0.16)$ (0.35)$ (0.51)
Number of
shares used
in diluted
earnings
(loss)
per share
computation 146,269 146,269 146,269 136,810 136,810 136,810
Notes:
1) Excludes EA Core amortization of intangibles of $1,853K for the
six months ended September 30, 2002 and $6,410K for the six months
ended September 30, 2001; and excludes EA.com amortization of
intangibles of $2,638K for the six months ended September 30, 2002
and $6,540K for the six months ended September 30, 2001.
2) Consolidated taxes have been allocated to EA Core and EA.com based
on a pro rata basis. The sum of tax provision for EA Core and tax
benefit for EA.com is the same as consolidated tax provision.
ELECTRONIC ARTS
Unaudited Supplemental Financial Information and Business Metrics
(in thousands, except per share data)
Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03
---------- ---------- ---------- ----------
CONSOLIDATED FINANCIAL
DATA
Net revenues 240,156 832,878 469,691 331,898
Net revenues - trailing
twelve months ("TTM") 1,369,680 1,562,239 1,724,675 1,874,623
Gross profit 122,396 432,025 269,722 190,533
Gross margin - % of net
revenues 51.0% 51.9% 57.4% 57.4%
Gross profit - TTM 709,216 807,719 917,064 1,014,676
Gross margin - TTM % of
net revenues 51.8% 51.7% 53.2% 54.1%
Operating income (loss) (52,057) 188,501 67,373 6,282
Operating income (loss)
margin - % of net
revenues (21.7%) 22.6% 14.3% 1.9%
Operating income (loss)
- TTM (26,220) 36,913 135,439 210,099
Operating income (loss)
margin - TTM % of net
revenues (1.9%) 2.4% 7.9% 11.2%
Net income (loss) (32,824) 132,292 47,295 7,404
Net income (loss) per
share - diluted ($0.24) $0.92 $0.33 $0.05
Net income (loss) - TTM (7,980) 36,334 101,509 154,167
Net income (loss) per
share - TTM ($0.07) $0.22 $0.68 $1.06
Pro forma operating
income (loss) (45,582) 208,911 79,734 8,527
Pro forma operating
income (loss) margin -
% of net revenues (19.0%) 25.1% 17.0% 2.6%
Pro forma operating
income (loss) - TTM (598) 78,264 181,160 251,590
Pro forma operating income
(loss) margin - TTM % of
net revenues (0.0%) 5.0% 10.5% 13.4%
EA CORE FINANCIAL DATA
EA Core net revenues 224,926 810,930 446,095 312,119
EA Core net revenues -
TTM 1,314,040 1,495,825 1,647,502 1,794,070
EA Core operating income
(loss) (14,923) 233,126 97,813 26,140
EA Core operating income
(loss) margin - % of
net revenues (6.6%) 28.7% 21.9% 8.4%
EA Core operating income
- TTM 152,086 210,028 286,462 342,156
EA Core operating income
margin - TTM % of net
revenues 11.6% 14.0% 17.4% 19.1%
EA Core pro forma
operating income (loss) (11,718) 236,331 101,086 27,066
EA Core pro forma
operating income (loss)
margin - % of net
revenues (5.2%) 29.1% 22.7% 8.7%
EA Core pro forma
operating income - TTM 164,864 222,827 299,350 352,765
EA Core pro forma
operating income margin -
TTM % of net revenues 12.5% 14.9% 18.2% 19.7%
EA.COM FINANCIAL DATA
EA.com net revenues 15,230 21,948 23,596 19,779
EA.com net revenues -
TTM 55,640 66,414 77,173 80,553
EA.com operating loss (37,134) (44,625) (30,440) (19,858)
EA.com operating loss -
TTM (178,306) (173,115) (151,023) (132,057)
EA.com pro forma
operating loss (33,864) (27,420) (21,352) (18,539)
EA.com pro forma
operating loss - TTM (165,462) (144,563) (118,190) (101,175)
CASH FLOW DATA
Operating cash flow (50,893) 70,472 295,577 6,643
Operating cash flow -
TTM 156,513 182,706 285,669 321,799
Capital expenditures 14,681 10,345 11,462 8,409
Capital expenditures -
TTM 63,197 55,543 51,518 44,897
BALANCE SHEET DATA
Cash, cash equivalents
and short term
investments 407,945 486,842 796,936 826,866
Marketable securities 4,581 7,282 6,869 5,403
Accounts receivables 103,538 463,384 190,495 118,347
Inventories, net 20,819 24,918 23,780 24,074
GEOGRAPHIC REVENUE MIX
North America Revenue 169,555 510,752 309,875 173,579
Revenue outside North
America 70,601 322,126 159,816 158,319
Europe Revenue 53,202 279,601 126,843 126,530
Japan Revenue 9,392 20,724 19,456 16,600
Asia Pacific
Revenue 8,007 21,801 13,517 15,189
Net Revenues 240,156 832,878 469,691 331,898
GEOGRAPHIC REVENUE MIX -
as a % of Total Revenue
North America Revenue 70.6% 61.3% 66.0% 52.3%
Revenue outside North
America 29.4% 38.7% 34.0% 47.7%
Europe Revenue 22.2% 33.6% 27.0% 38.1%
Japan Revenue 3.9% 2.5% 4.1% 5.0%
Asia Pacific
Revenue 3.3% 2.6% 2.9% 4.6%
Net Revenues 100.0% 100.0% 100.0% 100.0%
PLATFORM REVENUE MIX
PC 53,641 193,913 136,923 75,854
Sony PlayStation 2 91,497 226,910 112,773 134,510
Nintendo GameCube - 30,026 21,679 14,953
Xbox - 44,571 33,696 20,093
Sony PlayStation 25,125 122,717 27,359 13,215
N64 6,216 8,391 1,083 517
Game Boy Advance - 30,521 13,105 2,137
Game Boy Color 4,279 24,137 9,563 1,391
License/OEM 4,228 8,870 6,413 2,381
Affiliated Label 39,832 120,783 83,257 46,918
Other 108 91 244 150
---------- ---------- ---------- ----------
Total EA Core
Revenues 224,926 810,930 446,095 312,119
Subscription 7,188 7,002 8,794 8,141
Advertising 7,100 10,556 12,707 10,473
Product Sales 295 1,992 764 398
Direct Sales 647 2,398 1,195 422
License/OEM - - 136 345
---------- ---------- ---------- ----------
Total EA.com
Revenues 15,230 21,948 23,596 19,779
---------- ---------- ---------- ----------
Worldwide
Net
Revenues 240,156 832,878 469,691 331,898
PLATFORM REVENUE MIX -
as a % of Total Revenue
PC 22% 23% 29% 23%
Sony PlayStation 2 38% 27% 24% 41%
Nintendo GameCube 0% 3% 5% 4%
Xbox 0% 5% 7% 6%
Sony PlayStation 10% 15% 6% 4%
N64 3% 1% 0% 0%
Game Boy Advance 0% 4% 3% 1%
Game Boy Color 2% 3% 2% 0%
License/OEM 2% 1% 1% 1%
Affiliated Label 17% 15% 18% 14%
Other 0% 0% 0% 0%
---------- ---------- ---------- ----------
Total EA Core
Revenues 94% 97% 95% 94%
Subscription 3% 1% 2% 3%
Advertising 3% 1% 3% 3%
Product Sales 0% 0% 0% 0%
Direct Sales 0% 1% 0% 0%
License/OEM 0% 0% 0% 0%
---------- ---------- ---------- ----------
Total EA.com
Revenues 6% 3% 5% 6%
---------- ---------- ---------- ----------
Worldwide
Net
Revenues 100% 100% 100% 100%
Platform Sku Release Mix
PC 4 5 6 2
Sony PlayStation 2 4 6 6 4
Nintendo GameCube - 3 2 2
Xbox - 6 4 2
Sony PlayStation 1 4 - 1
N64 1 - - -
Game Boy Advance - 2 1 1
Game Boy Color 2 1 - -
Online 1 2 1 -
---------- ---------- ---------- ----------
Total skus 13 29 20 12
========== ========== ========== ==========
OTHER
Employees 3,579 3,494 3,479 3,501
ELECTRONIC ARTS
Unaudited Supplemental Financial Information and Business Metrics
(in thousands, except per share data)
YOY %
Q2 FY03 Growth
-----------------------------
CONSOLIDATED FINANCIAL DATA
Net revenues 453,490 88.8%
Net revenues - trailing twelve
months ("TTM") 2,087,957 52.4%
Gross profit 254,599 108.0%
Gross margin - % of net
revenues 56.1% N/A
Gross profit - TTM 1,146,879 61.7%
Gross margin - TTM % of net
revenues 54.9% N/A
Operating income (loss) 71,246 N/A
Operating income (loss) margin
- % of net revenues 15.7% N/A
Operating income (loss) - TTM 333,402 N/A
Operating income (loss) margin
- TTM % of net revenues 16.0% N/A
Net income (loss) 50,234 N/A
Net income (loss) per share -
diluted $0.34 N/A
Net income (loss) - TTM 237,225 N/A
Net income (loss) per share -
TTM $1.64 N/A
Pro forma operating income
(loss) 73,492 N/A
Pro forma operating income
(loss) margin - % of net
revenues 16.2% N/A
Pro forma operating income
(loss) - TTM 370,664 N/A
Pro forma operating income (loss)
margin - TTM % of net revenues 17.8% N/A
EA CORE FINANCIAL DATA
EA Core net revenues 434,694 93.3%
EA Core net revenues - TTM 2,003,838 52.5%
EA Core operating income (loss) 94,545 N/A
EA Core operating income (loss)
margin - % of net revenues 21.7% N/A
EA Core operating income - TTM 451,624 197.0%
EA Core operating income margin
- TTM % of net revenues 22.5% N/A
EA Core pro forma operating
income (loss) 95,472 N/A
EA Core pro forma operating income
(loss) margin - % of net revenues 22.0% N/A
EA Core pro forma operating
income - TTM 459,955 179.0%
EA Core pro forma operating income
margin - TTM % of net revenues 23.0% N/A
EA.COM
EA.com net revenues 18,796 23.4%
EA.com net revenues - TTM 84,119 51.2%
EA.com operating loss (23,299) N/A
EA.com operating loss - TTM (118,222) N/A
EA.com pro forma operating loss (21,980) N/A
EA.com pro forma operating loss
- TTM (89,291) N/A
CASH FLOW DATA
Operating cash flow 81,926 261.0%
Operating cash flow - TTM 454,618 190.5%
Capital expenditures 14,977 2.0%
Capital expenditures - TTM 45,193 (28.5%)
BALANCE SHEET DATA
Cash, cash equivalents and
short term investments 920,768 125.7%
Marketable securities 6,525 42.4%
Accounts receivables 139,366 34.6%
Inventories, net 36,827 76.9%
GEOGRAPHIC REVENUE MIX
North America Revenue 313,559 84.9%
Revenue outside North America 139,931 98.2%
Europe Revenue 116,654 119.3%
Japan Revenue 9,474 0.9%
Asia Pacific Revenue 13,803 72.4%
Net Revenues 453,490 88.8%
GEOGRAPHIC REVENUE MIX - as a %
of Total Revenue
North America Revenue 69.1% N/A
Revenue outside North America 30.9% N/A
Europe Revenue 25.7% N/A
Japan Revenue 2.1% N/A
Asia Pacific Revenue 3.1% N/A
Net Revenues 100.0% N/A
PLATFORM REVENUE MIX
PC 82,292 53.4%
Sony PlayStation 2 158,214 72.9%
Nintendo GameCube 27,823 N/A
Xbox 37,458 N/A
Sony PlayStation 24,192 (3.7%)
N64 (6) (100.1%)
Game Boy Advance 3,678 N/A
Game Boy Color 1,129 (73.6%)
License/OEM 3,667 (13.3%)
Affiliated Label 96,229 141.6%
Other 18 (83.3%)
----------------
Total EA Core
Revenues 434,694 93.3%
Subscription 7,635 6.2%
Advertising 8,645 21.8%
Product Sales 686 132.5%
Direct Sales 1,358 109.9%
License/OEM 472 N/A
----------------
Total EA.com Revenues 18,796 23.4%
----------------
Worldwide Net
Revenues 453,490 88.8%
PLATFORM REVENUE MIX - as a %
of Total Revenue
PC 18% N/A
Sony PlayStation 2 35% N/A
Nintendo GameCube 6% N/A
Xbox 8% N/A
Sony PlayStation 6% N/A
N64 0% N/A
Game Boy Advance 1% N/A
Game Boy Color 0% N/A
License/OEM 1% N/A
Affiliated Label 21% N/A
Other 0% N/A
----------------
Total EA Core
Revenues 96% N/A
Subscription 2% N/A
Advertising 2% N/A
Product Sales 0% N/A
Direct Sales 0% N/A
License/OEM 0% N/A
----------------
Total EA.com Revenues 4% N/A
----------------
Worldwide Net
Revenues 100% N/A
Platform Sku Release Mix
PC 3 (25%)
Sony PlayStation 2 4 0%
Nintendo GameCube 4 N/A
Xbox 3 N/A
Sony PlayStation 2 100%
N64 - (100%)
Game Boy Advance 1 N/A
Game Boy Color - (100%)
Online 1 0%
----------------
Total skus 18 38%
================
OTHER
Employees 3,704 3%
ELECTRONIC ARTS
Unaudited Supplemental Fact Sheet for Q2 Fiscal 2003
Q2 Product Releases Platform
----------------------------------------------------------------------
Madden NFL 2003 PC
The Sims Deluxe PC
The Sims Unleashed PC
Madden NFL 2003 Sony PlayStation 2
NASCAR Thunder 2003 Sony PlayStation 2
NCAA Football 2003 Sony PlayStation 2
Shox Sony PlayStation 2
Freekstyle Nintendo Gamecube
Madden NFL 2003 Nintendo Gamecube
NASCAR Thunder 2003 Nintendo Gamecube
NCAA Football 2003 Nintendo Gamecube
Madden NFL 2003 Xbox
NASCAR Thunder 2003 Xbox
NCAA Football 2003 Xbox
Madden NFL 2003 Sony PlayStation
NASCAR Thunder 2003 Sony PlayStation
Madden NFL 2003 Game Boy Advance
Earth & Beyond Online Packaged Goods
Co-pub, International only and Others (not in SKU count)
----------------------------------------------------------------------
LNF Manager 2003 PC
Battlefield 1942 PC
Buffy the Vampire Slayer Xbox
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